Sri Lanka: Non-Numerically Controlled Lathe Market 2024

Non-Numerically Controlled Lathe Market Size in Sri Lanka

The Sri Lankan non-numerically controlled lathe market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded a prominent increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Non-Numerically Controlled Lathe Exports

Exports from Sri Lanka

In 2021, shipments abroad of non-numerically controlled horizontal lathes, for removing metal decreased by 0% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 133%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, non-numerically controlled lathe exports surged to $X in 2021. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2020 when exports increased by 235%. Over the period under review, the non-numerically controlled laexports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Maldives (X units) and the UK (X units) were the main destinations of non-numerically controlled lathe exports from Sri Lanka. Moreover, non-numerically controlled lathe exports in Maldives exceeded the figures recorded by the second-largest exporter, the UK, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Maldives (with a CAGR of +8.0%).

In value terms, the UK ($X) remains the key foreign market for non-numerically controlled horizontal lathes, for removing metal exports from Sri Lanka, comprising 97% of total exports. The second position in the ranking was held by Maldives ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest.

Export Prices by Country

In 2021, the average non-numerically controlled lathe export price amounted to $X per unit, increasing by 75% against the previous year. Overall, the export price continues to indicate a slight increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 154%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Maldives totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+19.1%), while the prices for the other major destinations experienced a decline.

Non-Numerically Controlled Lathe Imports

Imports into Sri Lanka

In 2021, overseas purchases of non-numerically controlled horizontal lathes, for removing metal were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 2,113%. As a result, imports reached the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, non-numerically controlled lathe imports soared to $X in 2021. Overall, imports, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2016 when imports increased by 171% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest non-numerically controlled lathe supplier to Sri Lanka, with a 62% share of total imports. Moreover, non-numerically controlled lathe imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X units), fivefold. China (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.8% per year) and China (0.0% per year).

In value terms, the largest non-numerically controlled lathe suppliers to Sri Lanka were Japan ($X), China ($X) and South Korea ($X), with a combined 50% share of total imports. These countries were followed by Taiwan (Chinese), the UK, India, Malaysia, Singapore and France, which together accounted for a further 23%.

In terms of the main suppliers, Malaysia, with a CAGR of +21.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average non-numerically controlled lathe import price amounted to $X per unit, declining by -26.4% against the previous year. In general, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2014 an increase of 116% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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